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Fed: CU Members And Consumers Borrow More In April
WASHINGTON (6/10/13)--Borrowing by U.S. consumers and credit unions marginally increased in April, continuing a trend that has been ongoing the past several months, according to the Federal Reserve's Consumer Credit Report released Friday afternoon.

Overall, borrowing rose $11.1 billion, or 4.7%, to reach $2.82 trillion.

The $2.82 trillion total for April compares with roughly $2.81 trillion borrowed in March and $2.69 trillion borrowed in second quarter 2012, seasonally adjusted.

At credit unions, members borrowed $251.2 billion, up from March's $247.6 billion and from $231.2 billion in second quarter 2012, not seasonally adjusted.

Revolving credit data indicate that consumers overall charged $807.5 billion in April--up from $804.9 billion in March and just a notch ahead of the $807.4 billion in second quarter 2012. Credit unions' charge card debt barely rose to $39.5 billion from $39.4 billion in March. That compares with $37.4 billion borrowed in second quarter last year.

Total nonrevolving debt--which comprises student and auto loans but not real estate loans--rose $10 billion in April to $1.97 trillion from $1.96 trillion in March. In the second quarter 2012, nonrevolving debt totaled $1.839 trillion.

At credit unions, April nonrevolving debt totaled $211.8 billion, an increase from $208.2 billion in March. During second quarter 2012, members borrowed $193.8 billion.
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